How Can I Make My Money Work For Me in 2022?

Thanks to rising inflation, we all now have less money to go around than a year ago, but that doesn’t mean there are still savings to be found and ways to make your money go a bit further. We can’t do that much about the increasing prices, but we can vote with our feet and take advantage of the many different discounts and money saving tips available. And there are quite a lot of them if you know where to look! Here we’ve compiled a list of frequently asked questions about making your money work for you, so see if you can’t stretch those pounds a bit more this summer.

Online Shopping Savings

Have you ever tried using online voucher codes and discount codes before? If not these could be a game changer, finding you secret savings on your favourite brands so you can save a few more pounds every month on your regular online shopping.

What is the Best Site for Discount Codes? - Well, here at My Favourite Voucher Codes we do a pretty good job of finding all the best current online codes. And if you’re not familiar with how an online discount code works, It’s just a case of knowing where to look. For example, let’s say you’re planning on having a browse of Boohoo after payday and you see a dress you love. Before you add it to your basket and pay, just come to our Boohoo voucher codes page first and see if there is a secret code available. We often have secret codes that can get you as much as 30% off your Boohoo order, so if you find one, click on the link, copy the code and paste it in the box provided at the Boohoo checkout. We also have voucher codes available for names like LookFantastic, FeelUnique, Joules and other favourites, so this means you can start bagging extra savings on your regular clothes and beauty shopping.

How Do You Find a Discounted Product? - Voucher code discounts differ to sale discounts in that many of them are secret savings. This means you may not see the code advertised on the retailer’s site so you may have to go out of your way to hunt it down here on our pages. Some discount codes can be applied to the site as a whole, some are for specific types of items and products, but most of them are only valid for a limited time. You will also find you are only able to use codes with non-sale items, although we often have voucher codes available that give you extra money off sale prices too.

Online Grocery Discounts

Many of us now order our groceries online so are well-versed in where to find reduced items on the main supermarket sites. But are there any other ways to make savings on your food shop? Here are a couple of tips that could help:

How Can I Find Food Clearance Online in the UK? - If you want to cut down on food waste, it’s important you know the difference between a use by date and a best before date. If something is past its use by date, then it should definitely be thrown away. But best before dates are exactly what they say they are - this product will probably taste better before this date, but it will still be absolutely fine to eat after this date as well. So transferring this principle to your food shop, did you know there are sites that specialise in selling short-dated food at a fraction of the original cost? Approved Food voucher codes can take you to one such site where you can make huge savings on food clearance stock, with all your favourite brands represented. And as well as reductions on all their stock, they also have even lower sale prices as well as secret voucher codes often available.

Where is the Best Place to Buy Non-Perishable Bulk Food Online? - If you have the space in your kitchen, stocking up on non-perishable food is a great way to save money. All those staples we use everyday - pasta, rice, tins, cereal, biscuits - can be stored for a long time in your cupboards. And when there are lots of multi-buy deals and bulk discounts available, this could be a great way to cut down on your monthly food spend. Approved Food has lots of these sorts of savings, but there are other bulk buy food sites in the UK if you want to compare prices.

ISAs and Savings

Making your money work for you isn’t just about finding discounts on your shopping. It’s also about making your savings work that little bit harder as well. If you have some money put away, maybe now is the time to consider whether you can accumulate more interest elsewhere:

Where Can I Put Money to Earn the Most Interest? - Certain types of savings accounts can provide higher interest rates, such as those with a fixed term (where you can’t withdraw your money within that period), or regular savers (where you have to commit to depositing a minimum amount into the account every month). Cash ISAs are also a good option as you don’t have to pay tax on any interest you accumulate. The amount you can deposit is capped at £20k a year, and they can be fixed term or more flexible. Stock and Shares ISAs are also available and these are more of an investment portfolio that could yield higher returns.

Can I Set Up an ISA Online? - Yes, most providers allow you to apply to open an ISA online and can give you lots of information before you set it up. The bank or site will then get in touch with you once you apply.

Which UK Bank Has the Best ISA? - First you should decide which type of ISA you require that suits your needs best. You can then go ahead and compare interest rates and other factors, such as how much you need to deposit to open, and if it’s a fixed ISA, how long you need to wait to access your money. Tools like MoneySupermarket voucher codes can help make this task a lot easier as you can compare the current rates for both Cash ISAs and Stocks and Shares ISAs.

Travel and Flights

Right now, booking and arranging a holiday overseas comes with quite a bit of additional stress. But if you are looking for the lowest price on flights, then we have some very helpful tips for you:

What is the Cheapest Month to Travel? - The general rule of thumb is to avoid the school holidays. And for summer getaways, travelling in May, June or September will get you the lowest prices without sacrificing the sunshine.

What is the Cheapest Day to Fly Right Now? - Research has shown that Friday is the cheapest day of the week to book a flight, so this might be something you want to consider if you are putting together your own holiday itinerary. However, this isn’t the only deciding factor when it comes to cost.

Do Flights Get Cheaper Closer to Time? - Not necessarily. Like most things, price is usually determined by supply and demand, but as a general rule, it’s recommended the optimum time to book is about 4-6 weeks before the departure date. However, this doesn’t apply to every location, route and airline. With a lot of short haul flights, it’s best to book as soon as you possibly can because the cheaper seats usually get released straight away. Using TravelSupermarket voucher codes is a good way to search and compare the most up to date quotes, as well as get lots of other travel advice. And if you are looking to cut costs in other areas of travel, why not take a look at saving on your airport parking too? Booking early and looking at different parking providers and services could end up getting you quite a big discount on your booking.

So even though those prices are rising across the board, there are still lots of things you can do to help keep a few more pounds in the bank every month. Whether it’s changing the way you think about grocery shopping, doing simple checks for extra online discounts or being smarter about your banking and savings, they can all make a difference.

By Anna Scott, 16th June 2022